African Mining & Exploration plc ('AME' or the 'Company')

Board Appointment, Exercise of Warrants and Issue of Equity

Board Appointment

African Mining & Exploration plc, (AME), the AIM listed mining company with exploration licences in Mali, West Africa, is pleased to announce the appointment of Roger Williams as an Independent Non-Executive Director with effect from today.  He will chair AME's Audit Committee and will join AME's Remuneration Committee.

Roger, a UK citizen, is a UK and South African chartered accountant with over 20 years' international experience in mining finance. In 1997 he joined Randgold Resources working on its London Stock Exchange listing and its later secondary listing on NASDAQ, where he was appointed Group Finance Director in 2002. From 2002 to 2007 he was part of the management team that oversaw its expansion, raising debt finance, managing its treasury operations and assisting on M&A and new business. He is currently acting as consultant to two companies in the mining industry and is a non-executive director of Shaftsinkers plc.

The Board has also determined to grant Roger Williams 500,000 options over ordinary shares in the Company under the its Share Option Plan at an exercise price of 16.12 pence per share (being AME's closing mid-market price on 7 March 2011).   In accordance with the Share Option Plan, one third of these options will vest immediately and on each of the first and second anniversaries of AME's admission to AIM.

Stephen Oke, Chairman of African Mining & Exploration commented:

"We are delighted to welcome Roger Williams to the Board.  We are confident his wealth of experience and skills will complement our Board going forward and we believe this appointment provides further testament to the Company's potential."

Exercise of Warrants and Issue of Equity

AME also announces it has received a notice of exercise of warrants in respect of 272,000 ordinary shares of 1p par value at an exercise price of 12.5p per share.  The net proceeds that will be received by the Company following the exercise of the warrants is £34,000.

Further, AME announces that it has entered into a 12-month contract with Peregrine Investments Ltd (trading as Farm Street Communications) to provide strategic and communication services to AME for an annual fee of £6,000 payable in new ordinary shares of 1p each in the capital of the Company based on the 30 day volume-weighted average price of AME's ordinary shares.   AME has therefore issued 37,573 new ordinary shares to Peregrine Investments Ltd.  Peregrine Investments Ltd has also undertaken not to sell or transfer its ordinary shares in the Company without the prior written consent of AME's Board.

The new ordinary shares will rank pari passu with the existing ordinary shares in the Company.  Application has been made for 309,573 new Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange plc ("Admission").  It is expected that Admission will become effective on or around 14 March 2011. 

Following Admission, the Company will have 84,017,306 Ordinary Shares in issue.  The new ordinary shares will represent approximately 0.37 per cent. of the issued share capital of the Company immediately following Admission.

Enquiries:                                                                                           

Further information in relation to the Board appointment:

Roger Alyn Williams (aged 47) has held the following directorships during the last 5 years.

Mr Williams (aged 47) does not hold any ordinary shares in the share capital of the Company.  Save for the above, there is no further information to be disclosed under Schedule Two paragraph (g) of the AIM Rules for Companies.